(Entertainment-NewsWire.com, February 20, 2018 ) According to the report “Asia-Pacific Beverage Packaging Market By Type (Bottle, Can, Pouch, Carton), Material (Glass, Plastic, Metal, Paperboard), Application (Alcoholic, Non-Alcoholic, Dairy), And By Region - Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016-2021)” published by Market Data Forecast, The Asia-Pacific Beverage Packaging Market was worth USD 32.77 billion in 2016 and estimated to be growing at a CAGR of 4.5%, to reach USD 40.84 billion by 2021.
The Asia-Pacific Beverage Packaging Market is showcasing enormous potential in the forecasting period. Beverage packaging is used to prevent deterioration of packaged goods from unwanted foreign matter which would otherwise hamper the quality and taste of the beverages. Recent economic elevation in the emerging nations boosts the Asia-Pacific beverage packaging market.
Packaging can be done in various different materials namely glass, plastic, metal and paperboard. Packaging is an integral part of food & beverages industry. Packaging helps in protecting the goods from deteriorating due to external weather conditions and also helps in creating a communication channel through which a brand communicates with its consumers. Packaging not only increases the shelf life of a product but also decides the mode of transportation and ease of storage.
The Asia-Pacific Beverage Packaging Market is driven by the changing lifestyles in the Asia Pacific region. In the recent times, India, China, Japan and South Korea are witnessing high demand of on-the-go consumption. This is fuelling the growth of the Beverage packaging market in this region. China and India have a very large population and thus making Asia Pacific a suitable market for the beverage packaging industry. The factors which affect the beverage packaging industry are the per capita disposable income, growing health concerns, ease of access etc.
The Asia-Pacific Beverage Packaging Market is broadly segmented into Type (Bottle, Can, Pouch, Carton), Material (Glass, Plastic, Metal, Paperboard), and Application (Alcoholic, Non-Alcoholic, Dairy). Plastic packaging accounted for the highest revenue of the Beverage Packaging industry and is projected to witness huge growth rate during the forecast period. Based on geography, the Asia-Pacific market is analysed under various regions namely China, India, Australia, Japan and South Korea. The beverage packaging market was dominated by China, with the overall market share of over 33%. China was followed by India and Japan. India is predicted to grow at a steady pace in the coming few years.
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